The main purpose of having Life insurance is:

Question

Question: The main purpose of having Life insurance is

Options:

1.  As an avenue for long-term investment
2.  As a medium for getting income tax benefits from savings
3.  As a governmental programme for reducing poverty
4.  As an avenue for short-term investment
5.  None of the above

Answer 1

5. None of the above

The main purpose of having Life insurance is reduce the financial consequences of adverse situations

(Not be treated as an avenue for long-term investment or as a medium for getting income tax benefits from savings or as a governmental programme for reducing poverty or as an avenue for short-term investment).